SOUTH SAN FRANCISCO, Calif., Dec. 16, 2019 (GLOBE NEWSWIRE) -- RAPT Therapeutics, Inc. (RAPT), a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases, today announced that the Company will be added to the Russell 2000® and Russell Microcap® Indices as a part of the Russell quarterly update, effective December 23, 2019.
The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market, while membership in the Russell Microcap® Index measures the performance of the micro-cap segment. Membership in the Russell 2000 and Microcap Indices also provides automatic inclusion in the appropriate growth and value style indices. Both the Russell 2000 and Russell Microcap Indices roll up into the Russell 3000® Index, which measures the performance of the 3,000 largest publicly-traded U.S. companies based on market capitalization.
“We are delighted to be added to the Russell indices only two months after our initial public offering,” said Brian Wong, M.D., Ph.D., President and Chief Executive Officer of RAPT Therapeutics. “Our addition to these indices will further expand awareness of RAPT to the broader investment community.”
The Russell U.S. Indices are widely used by global investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell U.S. Indices. Russell U.S. Indices are part of FTSE Russell, a leading global index provider.
About RAPT Therapeutics, Inc.
RAPT Therapeutics (formerly FLX Bio) is a clinical stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases. Utilizing its proprietary discovery and development engine, the company is developing highly selective small molecules designed to modulate the critical immune responses underlying these diseases. In its first four years since inception, RAPT has discovered and advanced two unique drug candidates, each targeting C-C motif chemokine receptor 4. The Company’s lead oncology drug candidate, FLX475, reached the clinic in just two and a half years and RPT193, RAPT’s lead inflammation drug candidate, is also in the clinic. The Company is also pursuing a range of targets, including general control nonderepressible 2 and hematopoietic progenitor kinase 1, that are in the discovery stage of development.
This press release contains forward-looking statements. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future performances or achievements expressed or implied by the forward-looking statements. Each of these statements is based only on current information, assumptions and expectations that are inherently subject to change and involve a number of risks and uncertainties. Forward-looking statements include, but are not limited to, statements about RAPT’s expected addition to the Russell 2000® and Russell Microcap® Indices. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in RAPT’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on December 11, 2019 and subsequent filings made by RAPT with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. RAPT disclaims any obligation to update these forward-looking statements.